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Stocks: 10 Things You Need To Know

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Heron Therapeutics Inc (NASD: HRTX), where a total volume of 8,440 contracts has been traded thus far today, a contract volume which is representative of approximately 844,000 underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 117.8% of HRTX's average daily trading volume over the past month, of 716,190 shares. Especially high volume was seen for the $17.50 strike call option expiring January 20, 2017, with 4,203 contracts trading so far today, representing approximately 420,300 underlying shares of HRTX. Below is a chart showing HRTX's trailing twelve month trading history, with the $17.50 strike highlighted in orange:

Alphabet Inc (NASD: GOOGL) options are showing a volume of 20,333 contracts thus far today. That number of contracts represents approximately 2.0 million underlying shares, working out to a sizeable 83.8% of GOOGL's average daily trading volume over the past month, of 2.4 million shares.

Particularly high volume was seen for the $800 strike call option expiring December 16, 2016, with 1,056 contracts trading so far today, representing approximately 105,600 underlying shares of GOOGL. Below is a chart showing GOOGL's trailing twelve month trading history, with the $800 strike highlighted in orange:

And Ciena Corp (NYSE: CIEN) saw options trading volume of 16,626 contracts, representing approximately 1.7 million underlying shares or approximately 75.7% of CIEN's average daily trading volume over the past month, of 2.2 million shares.

Particularly high volume was seen for the $22 strike put option expiring December 16, 2016, with 10,978 contracts trading so far today, representing approximately 1.1 million underlying shares of CIEN. Below is a chart showing CIEN's trailing twelve month trading history, with the $22 strike highlighted in orange: